Costa Rica GDP Q4 2016

Costa Rica

Costa Rica: Growth accelerates in Q4 on improved investment

March 31, 2017

According to data released by the Central Bank on 31 March, the economy ended last year on a high note. In the fourth quarter of 2016, GDP grew by 4.3% over the same quarter a year earlier, beating analysts’ projections of a 3.7% expansion. The reading marked an acceleration from Q3’s revised 3.4% expansion (previously reported: +4.4% year-on-year), and was driven by a notable improvement in fixed investment.

In Q4, total consumption moderated from Q3’s 3.8% increase to a slower 3.6% expansion. The greatest improvement was noted in fixed investment, which declined at a more moderate 0.4% pace (Q3: -3.2% yoy). Moreover, private consumption growth remained broadly stable at 3.8%, in line with Q3’s reading, while government spending growth slowed to 2.9% (Q3: +3.6% yoy).

The strong result also came largely on the back of a dynamic external sector. While exports growth remained robust, clocking in at 9.4% (Q3: +10.0% year-on-year), it was a drop in imports growth (Q4: +5.1% yoy; Q3: +3.3% yoy) that held the external sector’s overall contribution to economic growth steady. Net exports growth contributed 0.2 percentage points to GDP.

The BCCR expects economic growth to reach 4.1% in both 2017 and 2018. FocusEconomics Consensus Forecast panelists expect GDP to grow 4.0% in 2017, which is unchanged from last month’s projection. In 2018, our panelists see GDP growth edging down to 3.9%.


Author:, Economist

Sample Report

Looking for forecasts related to GDP in Costa Rica? Download a sample report now.

Download

Costa Rica GDP Chart


Costa Rica GDP Q4 2016 1

Note: Year-on-year changes of GDP in %.
Source: Costa Rica Central Bank (BCCR) and FocusEconomics Consensus Forecast.


Costa Rica Economic News

  • Costa Rica: Economic activity growth accelerates in December

    February 9, 2018

    In December, year-on-year growth in economic activity accelerated to the fastest pace in 10 months, increasing from a revised 3.2% in November (previously reported: +2.4% year-on-year) to 3.5%, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR). December’s result was underpinned by increased activity in the services and manufacturing sectors.

    Read more

  • Costa Rica: Inflation decelerates in January

    February 7, 2018

    In January, consumer prices increased 0.41% month-on-month, down slightly from December’s 0.47% increase.

    Read more

  • Costa Rica: Economic activity growth picks up in November

    January 11, 2018

    Annual growth in economic activity increased from a revised 2.2% in October (previously reported: +2.3% year-on-year) to 2.4% in November last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR). Although November’s annual growth rate was the highest in three months, it was low by historical standards.

    Read more

  • Costa Rica: Inflation accelerates in December

    January 8, 2018

    In December, consumer prices increased 0.47% month-on-month, up from November’s 0.16% increase.

    Read more

  • Costa Rica: GDP growth slows in Q3 on lower investment

    December 22, 2017

    The economy lost steam in Q3 as fixed investment contracted sharply amid higher interest rates and increased uncertainty.

    Read more

More news

Search form